And investor sentiment in the core economy has picked up further this month, according to Sentix. Faith in the European Central Bank’s bond buying plans was partly behind the morale index climbing to 6.4 in October from 4.4 last month.

Sentiment also improved across the Eurozone as a whole, yet remained in negative territory, moving from -22.2 this month from September’s -23.2.

Germany’s economy ministry said industrial production fell a better-than-expected 0.5 per cent on the month in August.